OREANDA-NEWS. On 03 April 2008 was announced, that an annual general shareholder meeting was held by Tatnefteotdacha OJSC, a subsidiary of the Alliance Oil Company. The meeting drew up results of production and financial activity of the Company in 2007.

Over the reporting period, crude oil production volumes amounted to 453.9 thousand tonnes, which is 69.8 thousand tonnes more against 2006. A total of 239 wells produced oil. Over the year, 38 new wells were put on production. TNO has own piping system for oil gathering and water injection, a double flow high sulfur oil processing facility, a booster pumping station, four metering stations, and own power supply system.

In 2007, TNO acquired a license for geological study, prospecting and production of hydrocarbons in the Yukhmachinskiy 1 and Yukhmachinskiy 2 blocks with category С3 reserves estimated at 8.7 million tonnes. CAPEX in 2007 accounted for RUR 920.6 mln. (RUR 536.2 mln. in 2006)

EBIT in 2007 amounted to RUR 1,034.4 mln. (RUR 668.7 mln. in 2006), net profits amounted to RUR 769.0 mln. (RUR 485.7 mln. in 2006), and taxes payable to the budget and non-budgetary funds totalled RUR 1,549.0 mln. (1,245.8 mln. in 2006). Shareholders resolved to pay a dividend of RUR 769.0 mln. for the year 2007.

The new TNO Board of Directors included Ilghiz Davletov, Anatoly Gromov, Farid Shagidullin, Rustam Tukhvatullin, and Georgiy Zhukov.